How to Open a Mutual Fund Account and its Benefits
If you are thinking on opening a mutual fund account then you must already know that the mutual funds are a collection of funds from various investors for investing in stocks. Since it involves diversification, the risk factor associated with it is quite less. It is cost-efficient because an investment can be done even with a meager amount of money. It began its operations in India in 1963 with the launch of Unit Trust of India. It has evolved to greater heights than what it was in the start.
Opening a mutual fund account in India is quite easy, the opening of a mutual fund account can be carried out online, with a brokerage firm like Goodwill Commodities, it will be both free of cost and free of hassles.
The first step before you open a mutual fund account is to identify your investment goals. The next step is to be KYC- compliant. Now there are numerous schemes available for investing. Depending on your needs and goals, you have to choose the one which will be best suited for you, with an expert’s support from Goodwill, this decision can be made after careful monitoring and in-depth analysis.
Mutual funds come with numerous benefits, One of the advantages of mutual funds is its liquidity. Transaction happens only once per day and you can decide to invest in funds which can give good financial returns. There are also a wide variety of options to choose from.
Mutual funds are said to be the most famous Investment device, this is only because of the benefits of mutual fund investments.
Advanced Portfolio Management
On purchase of a mutual fund, a part of the payment goes to a specific fee of management. This will provide you with access to a professional portfolio manager, who will assist you in buying and selling of stocks. Considering a situation where professional portfolio managers of quality are hard to come to buy this is an excellent way to gather support and to upgrade your investment portfolio.
Dividend Reinvestment
Mutual funds have features such as dividends and other interest income sources. These are beneficial in the purchase of additional shares in the mutual fund. This will result in a default growth of your investments.
Risk Reduction
Through mutual funds, you can call for a diversified portfolio. Mutual funds enable you to invest in 50-200 different types of securities depending on the focus. This will help you in achieving reduced portfolio risks.
Convenience and Fair Pricing
Compared to the various options of trading that you can indulge in mutual funds are the most easy to buy and to understand. Their initial investment values are comparatively minimal and are traded only once per day at the closing net asset value. This eliminates price fluctuations throughout the day and various arbitrage opportunities that day-traders practice.
Income tax benefits
Through strategic use of mutual funds, you can considerably reduce the amount of income tax that you pay. Investments like Mutual funds, SIP etc… are eligible under income tax exemptions. The amount invested in these securities can be regained again through Section 80C. Although there is no constraint on the amount to be invested, the maximum amount that can be deducted is 1,50,000.
Mutual funds is not only a risk-free and beneficial pathway of trading but also one with high potentials. For a no-compulsion initial consultation and a successful trade journey in 2020, join hands with GOODWILL COMMODITIES. Call us today on +91 80122 78000 to Indulge in Smart Trading and Smart Earning!
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